It was developed by people too sissy for football or too white for basketball.

Agree with thrembo on basic origins. I started playing Ultimate in the early '80s, and it was fairly entrenched as "Ultimate" by then. Of course, I also lived a town over from the college that gave Johnny Dwork a legit degree of "Professional Flying Disc Entertainment and Education" studies.

That said, Ultimate is definitely played recreationally in pick up leagues here in the northeast.